FY 2010-11 Adopted Budget - Volusia County Government

Economic Development Fund - 130Economic Development Fund - 130Summary: The Economic Development fund was created in 2001 to promote and implement the County Councilgoals for a comprehensive countywide economic development program. Economic Developmentprovides administration, marketing, and grants-in-aid to support the community wide effort in diverse,quality recruitment and expansion of employment opportunities, while fostering positive local intergovernmentalpartnering. Economic Development receives funding from the General Fund to support alleconomic development programs and services. The budget provides for the costs associated with thesupport of the professional staff and the implementation of the County Council goal of comprehensivecountywide economic development. Development Programming provides grants-in-aid for businessdevelopment and business recruitment activities in coordination with the goals and objectives outlined inthe County's Economic Development Strategic Plan. Local funds are leveraged through cooperativeprograms such as the state's Qualified Tax Incentive (QTI) and Qualified Defense Contractor (QDC)Programs to expand the benefits for Volusia County manufacturers and businesses.DeLand Crossings Business Park is a 43 acre County-owned industrial site that contains 6 lots as well asareas for wetland preservation. Economic Development leveraged local, state and federal funds toconstruct infrastructure including roads, water and sewer, electrical utilities and a lift station at this site.Economic Development will continue to market the remaining sites to attract new businesses or allowexisting businesses to expand.AdoptedFY2009-10BudgetFY2010-11RevenuesCurrent RevenuesMiscellaneous Revenues $ 75,050 $ 150,000Subtotal Current Revenues $ 75,050 $ 150,000Non-Current RevenuesTransfers from Other Funds 3,169,496 1,577,443Appropriated Fund Balance 444,000 5,903,955Subtotal Non-current Revenues $ 3,613,496 $ 7,481,398Total Revenues $ 3,688,546 $ 7,631,398Total Operating Revenues $ 3,688,546 $ 7,631,398ExpendituresPersonal Services $ 884,158 $ 749,527Operating Expenses 918,778 2,575,236Capital Improvements 0 2,650,000Grants and Aids 0 300,000Reserves 1,885,610 1,356,635Total Expenditures $ 3,688,546 $ 7,631,398Total Operating Expenditures $ 3,688,546 $ 7,631,398Net Revenues Less Expenditures $ 0 $ 0Volusia County Section E - 68